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MINNEAPOLIS (WCCO) — St. Paul residents look to have voted Tuesday to pass a rent control policy that would be one of the most stringent in the nation.
The initiative, which as of 11 p.m. Tuesday had 53% approval with all but two precincts reporting, would cap annual rent increases in the city at 3%, with only certain exceptions for property tax increases and major improvements.
Advocates say the policy will protect low-income renters from unfair profiteering, specifically for renters of color. Opponents, however, said that rent control will hurt housing development in the city, leading to only higher prices for renters.
Prior to election day, Mayor Melvin Carter said he would vote in support of the measure. The mayor is projected to win re-election, as he amassed more than 60% of first-round votes Tuesday night.
For a look at the results of other top Twin Cities races, click here.
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Source: CBS Minnesota